Tens of millions of Americans will have up to $20,000 in federal student loan debt forgiven by President Biden, a move that would offer borrowers unprecedented relief but is guaranteed to face legal challenges and political backlash. The president said Wednesday that he will forgive $10,000 in federal student loan debt for borrowers earning less
Financial markets were concerned about ongoing global cost pressures on Tuesday, which led to a decline in Asian shares. This week, investors will be paying attention to U.S. inflation data and the possibility of further aggressive Federal Reserve rate hikes. The July U.S. consumer price report is coming on Wednesday, and the surprisingly positive U.S.
Thursday morning traders were analyzing the U.S. Federal Reserve’s June meeting minutes, which indicated the organization’s commitment to fighting inflation, and the bulk of Asia Pacific stocks was higher. Japan’s Nikkei 225 jumped 1.24% by 10:55 PM ET (2:55 AM GMT). South Korea’s KOSPI gained 1.73%. Australia, the ASX 200 rose 0.35%. Hong Kong’s Hang Seng was down 0.49%. China’s Shanghai Composite was